Biofuels Stock and Financial Outlook for October 12: Biofuels stocks continue to rise amidst modest broad market rally

Biofuel stocks continued their surprising rebound as comments by industry insiders boosted confidence that ethanol prices will recover. The CEO of the Renewable Fuels Association, Bob Dineen, said in a conference call with Citi analysts that he believed that ethanol prices were “at or near the bottom”.
The Biofuels Digest Indexâ„¢, a basket of public biofuels stocks, rose 2.27% yesterday to close at 103.22. It was the second-biggest daily jump and the second-highest closing price ever. Archer-Daniels-Midland (ADM) jumped 4.49% to $34.90 on the good news on ethanol prices, while pure-play ethanol stocks such as VeraSun (VSE) and Pacific Ethanol (PEIX) also rose more than 2% in the days’ trading.

Overall, losers led gainers 11 to 7 as small caps fell, among them Intrepid Technology & Resources (IESV.OB) which lost 12% on the day. Environmental Power fell 0.97% to $5.10 despite announcing a long-term renewable natural gas agreement with Pacific Gas & Electric. Biodiesel stocks were up, with Better Biodiesel rising 2.86% to $1.05 and Nova Biosource Fuels gaining 1.57% to close at $2.58.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Biofuels Stock and Financial Outlook for October 15: Stock futures flat, oil prices at record, biofuels surging

Stock futures were flat this morning as US markets readied to open, as more than 15% of the S&P 500 prepares to release third quarter earnings this week. Crude oil futures reached a record $85.19 p...

Biofuels Digest Index gains 4.72 percent to 52.18 on broad market rally

The Biofuels Digest Index™ (BDI), a basket of public biofuels stocks, gained 4.72 percent to 52.18 amidst a general market rise.  Archer Daniels Midland (ADM) gained 2.89 percent to close at $25.27...

Biofuels Digest Index soars 6.23 percent to 50.83 on broad market rally

The Biofuels Digest Index™ (BDI), a basket of public biofuels stocks, soared 6.23 percent yesterday to 50.83 on a broad market rally. Archer Daniels Midland (ADM) rose 6.27 percent to $29.16, while ...

Biofuels Stock and Financial Outlook for September 11

The US stock market is expected to start higher this morning as the Manpower employment outlook index was unchanged for the upcoming quarter, despite previous drops in the August employment numbers th...

Biofuels Stock and Financial Outlook for September 28: Stocks expected to open down as oil prices rise

Stocks are expected to open down this morning as futures fell for the major stock indices amidst concern about rising oil prices. US crude oil closed at $82.90. Personal consumption and purchasing man...

Biofuels Stock and Financial Outlook for October 25: Stock futures up on corporate earnings as ethanol stocks mixed, biodiesel stronger

Stock market futures were up this morning on strong corporate earnings, while the outlook for biofuels continued to increasingly punish ethanol pure-plays. A report this morning identified a worldwide...